Venezuela Rebellion Could Send Oil To $80

9 Aug 2017   Venezuela

The economic, political and security situation in Venezuela has been frightening for quite a while, but things continue to grow worse. The new “constituent assembly,” put together to rewrite the constitution, is seen by most as an attempt to erode the nation’s democracy and consolidate power in the hands of the president. In an ominous sign, more than a dozen soldiers reportedly attacked a Venezuelan military base on Sunday, and although the assault was put down, it highlights the increasing fragility of the state. “The significance lies in whether this suggests that Maduro is losing his grip on the military and whether we can expect to see more mutinies to come, or if this is just an isolated incident,” said Stuart Culverhouse, Global Head of Macro & Fixed Income Research at Exotix Capital in London. “Details are sparse and it’s probably too early to say either way at this […]

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